Karl Armstrong has become the first New Zealander to be made President of the Australian and New Zealand Institute of Insurance and Finance since its formation in 2000.

The IAG New Zealand Chief Risk Officer is a “highly experienced and respected industry leader in the region” who will prove “an exceptional representative of our industry”, according to institute CEO Prue Willsford. 

Munich Re MD Heinrich Eder has been appointed Deputy President, and Elders Insurance GM Jonathon Fox becomes Immediate Past President after his two-year term as president.

Five new directors have been appointed: Crawford & Company Australia CEO Andrew Bart; AMP Director Insurance Megan Beer; Zurich Australia and New Zealand CEO Daniel Fogarty; Suncorp Commercial Insurance Learning and Development EM Callan McDonnell; and Steadfast Group EGM Allan Reynolds.

The new board was announced at the institute’s AGM in Melbourne last Thursday.